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Electroaparataj finished 2018 with losses of 345,611 lei, 4 times lower than in 2017

Wednesday, February 13, 2019

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Electroaparataj reported losses of 345,611 lei for 2018, about four times lower than in 2017, to which 1.31 million lei was added, according to preliminary financial data sent to Bucharest Stock Exchange on Tuesday. The business figure of the company was 17.997 million lei, on the rise by 6.8%, compared to 2017. The overall incomes were 18.11 million lei (17.67 million lei in 2017), and expenses were 18.455 million lei (18,981 lei in ...

Blue Air attracts German group Zeitfracht as shareholder

Wednesday, February 13, 2019

The German group Zeitfracht has become a major investor in Romania’s biggest air carrier Blue Air, as it bought 10 percent of the company’s shares. Negotiations began at the end of 2018, while transfer documents were signed on December 12, 2018, according to a Blue Air statement. Subsequently, Zeitfracht performed all procedures provided by German law for acquisitions in foreign companies that were finalized this ...

AFI Europe intends to take over Casa Radio project, in central Bucharest

Wednesday, February 13, 2019

AFI Europe N.V., present since 2005 on the Romanian market through AFI Europe Romania, has signed a non-binding Letter of Intent with Plaza Centers N.V. to take over its entire indirect shareholdings in the Casa Radio project, located in central Bucharest. The total value of the offer is EUR 60 million. Subject to the successful completion of this transaction, AFI Europe will become the majority shareholder in this project, with a share of 75%. The ...

TopShop Topman launches its first store in Romania

Wednesday, February 13, 2019

British fashion brands, Topshop and Topman, will enter the Romanian market with a brand new store design concept that will launch in Bucharest. The impressive 1,000 square meters of retail space will open in the Bucuresti Mall in March 2019. The Voici La Mode Group will oversee the British brands’ expansion into Romania as their official franchise partner in the country. Product is at the heart of the Bucharest Topshop Topman store design; simple ...

Eurostat: Romania ranks above the EU average in terms of birth rate of enterprises

Wednesday, February 13, 2019

Romania is above the European Union average in term of birth rate of enterprises, according to Eurostat. In 2016, the birth rate in Romania was 10.4 percent, compared with an EU average of 9.8 percent. The birth rate of enterprises is the number of newly-born companies as a proportion of the total number of activefirms. The higher birth rates in the EU were registered in Lithuania (18.8  percent), ...

Romanian organic agriculture input producer Norofert Organics expands to neighboring Moldova

Wednesday, February 13, 2019

Norofert Organics, the biggest input producer for organic agriculture in Romania, expands its business in the Republic of Moldova through a partnership with a local distributor, the company said quoted by http://business-review.eu. Norofert Organics also plans to enter this year other markets in Eastern Europe, such as Bulgaria or Croatia. One of Norofert’s leading products is effervescent tablets. In the first phase, ...

Safetech Innovations doubles profits in 2018 to reach RON 1.1 million, considers listing on BVB AeRO

Wednesday, February 13, 2019

Safetech Innovations, the cybersecurity leader on the Romanian information security market, closed 2018 with a net profit of RON 1,100,000, a historical record for the company, double compared to result registered in 2017, of RON 529,000, http://business-review.eu informs. In terms of revenues, the company registered in 2018 a turnover of RON 7 million, a decrease compared to the result from 2017, of RON 8 ...

Morgan Stanley in talks for EUR 150 mln office deal in Bucharest

Wednesday, February 13, 2019

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Morgan Stanley Real Estate Romania, the local division of the American group, reportedly considers the acquisition of the Hermes Business Campus office project in ...

BAT moves service center from Belgium to Romania

Wednesday, February 13, 2019

British American Tobacco (BAT), the second-largest tobacco producer in the world, will close a Belgian center and move its activities to Romania while the trade unions say it is a “typical case of social dumping.” The 45 employees of the BAT Center in the Molenbeek district of Brussels, were announced about the move on Friday, February 1, according to local ...

Deloitte Romania appoints new director for marketing and business development

Wednesday, February 13, 2019

Deloitte Romania appointed Romanian Ruxandra Bandila as Director for Marketing and Business Development. She will report to Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova. Bandila has decided to rejoin the professional services sector after her career path took her through various fields, from project management, marketing and business development, to strategy and operations in different ...

The Competition Council authorized the taking over of Glokal Dijital Hizmetler Pazarlama by GLQ Holdings and DHI Investment

Wednesday, February 6, 2019

The Competition Council authorized the trading through  which GLQ Holdings and DHI Investment takes over Glokal Dijital Hizmetler Pazarlama ve Ticaret through the company Glocal Invest, according to a press release of the institution.DHI Invest BV  and Glocal Invest BV, both from the Netherlands are owned by Dogan Sirketler Grubu Holding AS Turkey.In Romania as well as on an international plan, Dogan Sirketler Grubu Holding AS is active in ...

In 2018, every two days a company with impact in the economy got into insolvency

Wednesday, February 6, 2019

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The number of insolvencies among the companies of impact was kept constant in the last three years registering a slight drop from 184 of companies in 2017 to 183 in 2018 shows an analysis of CITR company specialized in insolvencies. The total value of assets immobilized of the companies of impact in insolvency reached in 2018 809 million euro, the lowest threshold over the last five years and dropping with 34.44% as compared to the previous ...

Navodari Chemical Fertiliser Plant more successful in 2018

Wednesday, February 6, 2019

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Navodari Chemical Fertiliser Plant, the only Romanian manufacturer of technological fertilisers in Romania, concluded 2018 financial year with a business figure of 106 million lei, on the rise by 10% against the previous year, according to a company press release. “2018 was a good year for us and I think this is due to the fact that we are very attentive to farmers’ needs. The latter started changing their options for fertilisers and ...

Competition Council hands down sanctions worth 93 million euro in 2018

Wednesday, February 6, 2019

The Competition Council handed down fines worth a total of 435 million lei (93 million euro) in 2018, this being the second year with the highest fines in the history of the institution, President of the Competition Council Bogdan Chiritoiu told a news conference on Tuesday.By comparison, in 2017, there were handed down fines worth 123 million lei."It was a year with a very intense activity, the second year in terms of the level of sanctions in the ...

Number of newly-established companies running on foreign capital down 2.64 pct in 2018; share capital up 18.2pct

Wednesday, February 6, 2019

The number of newly-established companies running on foreign capital decreased by 2.64 per cent in 2018 against 2017, to 5,683 units, according to data centralized by the National Trade Register Office (ONRC).The 5,683 newly-established companies had a share capital worth a total of 47.559 million US dollars, up 18.2 per cent against 2017.According to the ONRC, in December 2018 there were registered 477 companies running on foreign capital, most of ...

Grants between EUR 1 and 5 million for Romanian companies through Regional Operational Program 2.2

Wednesday, February 6, 2019

Romanian companies are now able to access grants between EUR 1 and 5 million through the Regional Operational Program 2.2, http://business-review.eu informs. The companies must have between 3 and 249 employees and have registered profit in 2018. All info and the Applicant’s Guide are available on the Inforegio website (inforegio.ro).  The procedure was simplified for the March – April 2019 ...

Camicissima, Italian shirt brand for men enters Romania

Wednesday, February 6, 2019

Camicissima, a renowned Italian man shirts brand is entering the Romanian market by opening  stores in three shopping centers in Bucharest. The new stores present the 2018-19 fall-winter collection. The first stores in Romania will be located in Park Lake Shopping Center, Plaza România and Mega Mall. The brand will expand in other three stores by the end of this year. Camicissima is a brand comprising high-quality ...

WDP posts net result of EUR 328.8 million for 2018

Wednesday, February 6, 2019

Belgian real estate developer WDP (Warehouses de Pauw) recorded in 2018 a net result of EUR 328.8 million at the group level, driven in part by an increase of EUR 208.3 million in the underlying value of its property portfolio. The developer owns over several warehouses around Romania, with a total of over 300,000 square meters. The occupancy rate at the end of 2018 was 97.5 percent and the duration of the lease contracts is 5.8 years. The value of ...

Over 90% of the companies in Romania say we are not ready to cope with financial crisis

Wednesday, February 6, 2019

The fiscal and legislative uncertainties of the past year have affected the investment plans of 57% of the companies based in Romania, according to a EY Romania barometer. 92% of the respondents think that Romania would be “totally unprepared” or “unprepared” if a financial crisis similar to the one ten years ago took place. 47% of the surveyed businessmen are distrustful and very distrustful of the ...

CMS survey : Romania ranks 5th on value of transactions in the region

Wednesday, February 6, 2019

The most recent CMS survey, Emerging Europe Mergers and Acquisitions 2018, completed in collaboration with EMIS, shows that the UK has been the largest foreign investor in emerging Europe in terms of value with EUR 9.77 billion, whereas the US has been the largest in terms of volume – 89 transactions in 2018. The value of transactions in emerging Europe reached a total of EUR 80.5 billion in 2018. Romania ranks 5th in the ...

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